If Consumer Purchases of a Good Are Highly Sensitive to the Price

question 386

Multiple Choice

If consumer purchases of a good are highly sensitive to the price of the good, economists say the demand for the good is relatively

• A) inelastic.
• B) elastic.
• C) robust.
• D) inverse.

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Definitions:

Triple Bond

A type of chemical linkage where two atoms share three pairs of electrons, resulting in a bond that is shorter and stronger than those involving only one or two pairs of electrons.

2-Hexyne

An organic compound with the chemical formula C6H10, consisting of a six-carbon chain with a triple bond between the second and third carbon atoms.

Lewis Line Structure

A diagram representing the valence electrons of atoms within a molecule using dots and lines for bonding pairs.

Line Structure

A simplified representation of a chemical structure, using lines to represent chemical bonds and showing the arrangement of atoms within the molecule.